Financial News

Julus (Miller) Patrick
January 4, 2021
AP-NC Newswatch
January 5, 2021
Financial News

 

 

Global shares mixed…Chinese phone carriers un-delisted

 

TOKYO (AP) – Global shares have been mixed today after Monday’s retreat on Wall Street on the first trading day of the year. In early trading, France’s CAC 40 rose 0.1%, while Germany’s DAX inched down nearly 0.1%. Britain’s FTSE 100 gained 0.7%. In Asia, Japan’s Nikkei finished 0.4% lower. South Korea’s Kospi jumped 1.6%, while Hong Kong’s Hang Seng added 0.6%. The Shanghai Composite climbed 0.7%. Dow and S&P futures are up 0.1%.

 

NEW YORK (AP) – The New York Stock Exchange says it no longer plans to remove shares of three Chinese state-owned phone carriers under an order by President Donald Trump. The exchange cited “further consultation” with U.S. regulators but gave no other details of its decision. The NYSE announced plans to remove China Telecom Corp. Ltd., China Mobile Ltd. and China Unicom Hong Kong Ltd. after Trump’s order in November barring Americans from investing in securities issued by companies deemed to be linked to the Chinese military. The Chinese government has accused Washington of misusing national security as an excuse to hamper competition.

 

SEOUL (AP) – An Iranian government spokesman is calling South Korea a “hostage taker” over freezing Tehran’s $7 billion in assets there. Ali Rabiei’s comments come a day after Iran seized a South Korean-flagged tanker in the Strait of Hormuz. While Iran claims it seized the ship over polluting the Persian Gulf and the strait, the move came just ahead of a South Korean diplomat heading to Tehran to negotiate over the funds frozen amid a U.S. pressure campaign.

 

SILVER SPRING, Md. (AP) – The world’s richest person made the single-largest charitable contribution in 2020, according to The Chronicle of Philanthropy’s annual list of top donations. Amazon’s founder and CEO, Jeff Bezos, whose “real-time” worth Forbes magazine estimates at roughly $188 billion, made a $10 billion gift that is intended to help fight climate change. His Bezos Earth Fund, which supports non-profits involved in the climate crisis, has paid out $790 million to 16 groups so far, according to the Chronicle.

 

BEIJING (AP) – China’s official Xinhua News Agency is calling for shorter work hours in the country’s tech sector following the sudden death last week of a young employee at a leading e-commerce platform. Xinhua says in a brief editorial posted on its Twitter-like Weibo account that the incident refocused attention on “the pain of an abnormal culture of overtime.” It said dreams should be pursued through striving, but workers’ legitimate rights and interests should not be sacrificed and employers may be breaking the law in encouraging health-sapping overwork. The editorial follows the Dec. 29 death of a 22-year-old employee of Pinduoduo as she was walking home with a colleague at 1:30 a.m.